From Mandates to Modernization: Payments as a Service Strategies for European Banks

Summary

In Europe, banks face a myriad of regulatory challenges and customer demands that are propelling them to modernize their payments systems and processes. One significant challenge is the banks need to comply with the European Central Bank's (ECB) new mandate to offer instant payments in euros as early as January 2025 and seamless digital experiences from customers. Additionally, regulatory requirements such as the Revised Payment Services Directive (PSD3) are driving banks to enhance their payment systems to ensure compliance and mitigate risk.

Discover how Payments as a Service (PaaS/SaaS) models can help to remove the burden of compliance, streamline operations, and reduce costs with cloud-native technology with less risk. Learn how these models enable agility, scalability, and innovation, crucial for meeting customer demands in a rapidly evolving market.